Hortau, Inc., a St-Romuald, Québec-based company specializing in advanced solutions designed to simplify the irrigation process, has secured C$3 million in funding from Avrio Capital. Since 2006, Hortau has been backed by such venture capital firms as Capital Financière agricole, Desjardins Capital de risque and Telesystem. Avrio, which focuses on late-stage investments in the innovative food and agriculture sector, completed the second close of its Avrio Ventures LLP II in 2012.
Hortau Inc. Secures $3 Million in Financing from Avrio Capital
LEVIS, QUEBEC–(Marketwire – Jan. 8, 2013) – Hortau Inc., a Quebec City-based company that designs and manufactures cutting-edge irrigation management technologies, and Avrio Capital, Canada’s leading private equity firm focused on food and agriculture, today announced a $3-million equity financing that will allow Hortau to consolidate its position as the leading precision irrigation management company in North America.
Hortau is recognized as one of the world’s leading innovators in irrigation management. Its Irrolis™ 3 system considerably reduces the amount of water needed to irrigate agricultural fields, thereby improving environmental performance and yield.
“We are extremely pleased to have Avrio Capital as one of our financial partners. Avrio and its managers have successfully invested in a number of technologies, and their worldwide network, expertise in the agricultural sector, and their intimate understanding of the issues facing precision agriculture around the world, make them the ideal partner for Hortau as it enters its next stage of growth. This financing will enable us to dramatically increase the value of our business, specifically in targeting the California market, expanding our North American sales force, and improving our bottom line,” said Hortau president Jocelyn Boudreau.
“Precision agriculture technologies are absolutely essential in driving the types of step function increases in yield the world requires to feed our ever increasing population base. Efficient usage of water and the concomitant optimization of nutrients is a central theme in precision ag, and we believe that the integration and robustness of Hortau’s solution is best in class for irrigation management. We look forward to working with management as they extend the technology to other applications and continue to solidify their leadership position in this quickly expanding market,” said Aki Georgacacos, one of the founding partners of Avrio.
Avrio Capital adds to Hortau’s current investment partners: Telesystem, Desjardins, Capital Financière agricole, SDÉ Lévis and SOLIDE.
Founded in 2002 by two agriculturally minded entrepreneurs, Hortau quickly made a name for itself in irrigation management. Backed by its patented sensing technologies and the unique expertise of its team, Hortau allows growers to better manage and control their use of water, an increasingly precious resource. Its biggest strength lies in its ability to increase productivity, lower input costs and thus maximize farming profits. Headquartered in Quebec, Hortau serves a primarily North American-based clientele. www.hortau.com.
About Avrio Capital
Avrio Capital was established in 2006 to identify and invest in innovative food and agriculture companies that provide solutions to global challenges in the areas of health, wellness and sustainability. Avrio is a hands-on investor that works alongside of its portfolio companies to provide the support and resources needed to transform emerging companies into successful, globally competitive enterprises. For more information, visit www.avriocapital.com.
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